Improving affordability continues to outpace buyer demand

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Postmedia has not reviewed the content. by GlobeNewswire Improving affordability continues to outpace buyer demandAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.SURREY, British Columbia, Aug. 05, 2026 (GLOBE NEWSWIRE) — Fraser Valley home prices continued to edge downward in July, with the composite Benchmark price down 0.8 per cent from June and down seven per cent year-over-year. Despite improving affordability, buyers remained cautious, keeping sales well below typical seasonal levels.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Fraser Valley Real Estate Board recorded 1,089 sales on its Multiple Listing Service® (MLS®) in July, a five per cent decrease from June and nine per cent below the same month last year.“Buyer urgency has been notably absent from the Fraser Valley market for some time now,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “With inventory remaining high and competition subdued, buyers know they don’t have to rush. They can take their time evaluating their options, knowing they can return to a market that continues to offer plenty of choice.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againSeller activity slowed in July, with 2,836 new listings coming to market—a 14 per cent decline from June and 18 per cent below the same month last year. Overall inventory also edged down in July, with 10,044 active listings on the market, a three per cent decline from June, but still 32 per cent above the 10-year seasonal average.The Fraser Valley remains in a buyer’s market with a sales-to-active listings ratio of 11 per cent in July. A balanced market is typically defined by a ratio between 12 and 20 per cent.“Economic uncertainty continues to influence buying decisions, but the Fraser Valley has remained one of the Lower Mainland’s brightest spots for improving affordability,” said Anthony Boone, Interim CEO of the Fraser Valley Real Estate Board. “As home prices continue to ease, qualified buyers are finding opportunities that simply weren’t available a few years ago, particularly those looking to enter the market or downsize.”Across the Fraser Valley in July, the average number of days to sell both a single-family detached home and a townhome was 40 days. Condos took, on average, 46 days to sell.The composite Benchmark price for a typical Fraser Valley home in July was $877,600.MLS® HPI Benchmark Price ActivitySingle Family Detached: At $1,335,200 the Benchmark price for an FVREB single-family detached home decreased 1.1 per cent compared to June 2026 and decreased 8.3 per cent compared to July 2025.Townhomes: At $757,300 the Benchmark price for an FVREB townhome decreased 0.9 per cent compared to June 2026 and decreased 7.1 per cent compared to July 2025.Apartments: At $469,500 the Benchmark price for an FVREB apartment/condo decreased 1.4 per cent compared to June 2026 and decreased 9.1 per cent compared to July 2025.* The Fraser Valley Real Estate Board represents some 5,000 real estate professionals, and is the exclusive source of statistics and information for the Fraser Valley real estate market including, Surrey, Langley, Abbotsford, Mission, White Rock and North Delta. Contact nikki.hewitt@fvreb.bc.caNikki Hewitt, Senior Communications Specialist Telephone: 604.930.7654Fraser Valley Real Estate Board www.fvreb.bc.ca FVREB Stats This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.